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Petrol Prices Increased In June

AA Petrolwatch 2003

AA PetrolWatch noted that petrol prices at the pump increased slightly in June, but remained relatively stable throughout the month showing little change in many centres. Average weekly prices for 91 Octane varied around 99.5 cents per litre, compared with last month’s average of between 95.5 and 97.5 cents per litre. This stability reflected a continuing strong New Zealand dollar and relatively little change in international oil prices.

The importer margin varied between 10.5 and 12.5 cents per litre, compared with last year’s average of around 12.5 cents per litre.

The average price of diesel in most centres throughout the month, was 59.9 cents per litre.

It needs to be noted that petrol prices rose from 1 July as a result of the increase in the ACC Levy on petrol. This levy increased from 2.3 cents to 5.08 cents per litre on 1 July 2003. Motorists will now pay excise tax and levies on petrol totalling 41.99 cents per litre (excl. of GST).

AA PetrolWatch will continue to monitor fuel prices and report on them regularly.

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